Decentralized prediction markets platform Polymarket is in talks to boost $400 million in new funding at a $15 billion valuation, based on The Data, citing sources aware of the matter.
The potential elevate builds on October stories that Polymarket was in early-stage talks with traders at a valuation between $12 billion and $15 billion.
From $9B to $15B
Polymarket had a $9 billion post-money valuation in October after NYSE father or mother firm Intercontinental Trade agreed to speculate as much as $2 billion.
The brand new funding would add to the $600 million already dedicated by Intercontinental Trade.
Polymarket can also be looking for extra strategic traders past Intercontinental Trade, probably bringing the full funding measurement to $1 billion.
Rising competitors
Polymarket and rival Kalshi have been attracting elevated investor curiosity in current months.
In March, Kalshi reportedly raised over $1 billion at a $22 billion valuation, roughly doubling its worth since November.
Kalshi recorded about $13 billion in month-to-month quantity in March, in contrast with Polymarket’s $10.57 billion.
Regulatory stress
Each platforms have confronted rising scrutiny from U.S. lawmakers.
In March, senators Adam Schiff and John Curtis launched the “Prediction Markets Are Playing Act,” looking for to bar prediction contracts tied to sports activities or casino-style video games from being listed or traded on registered platforms.
In response, Kalshi launched new screening instruments, whereas Polymarket expanded restrictions on market abuse.